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Modern Approaches to Management Accounting

FA23

Introduction

This course is meticulously structured to elevate the expertise of senior financial and managerial professionals in modern management accounting. It delves into strategic management accounting, effective performance management, and advanced budgeting practices. Participants will gain invaluable insights into leveraging accounting tools for strategic decision-making, enhancing performance, and responding to global and environmental challenges. The course is designed to arm attendees with practical skills and contemporary methodologies to thrive in dynamic business environments.

Who should attend

This course is ideal for senior financial managers, non-financial managers, and other high-level professionals who aim to deepen their understanding of management accounting in a rapidly evolving business landscape. It is especially beneficial for those who oversee finance teams and are involved in strategic planning and decision-making within their organisations. Participants will learn to adapt traditional accounting practices to contemporary challenges and opportunities, ensuring their teams contribute effectively to organisational goals.

5 days

London | £4950
Dubai | £4950

05 - 09 Aug 24 (London) 21 - 25 Oct 24 (London) 20 - 24 Jan 25 (London)
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COURSE PROFILE

Strategic Management Accounting Foundations

  • Exploring key concepts in strategic management accounting
  • Integrating strategic tools for enhanced competitive positioning
  • Evaluating risks using advanced management tools
  • Identifying drivers of sustainable competitive advantage
  • Analysing strategic decision-making processes

Maximising Performance Management

  • Assessing the role of effective performance management
  • Implementing Key Performance Indicators (KPIs) for financial and operational success
  • Utilising the Balanced Scorecard for holistic management views
  • Benchmarking against industry standards to identify improvement areas
  • Engaging in continuous performance dialogue and feedback

Beyond Traditional Budgeting

  • Critiquing the limitations of traditional budgeting methods
  • Adopting Beyond Budgeting for dynamic financial management
  • Applying rolling forecasts and plans for continuous adaptation
  • Implementing Activity-Based Budgeting (ABB) to enhance financial accuracy
  • Engaging in scenario planning to prepare for future uncertainties

Delivering Organisational Value

  • Employing Activity-Based Costing (ABC) for precise cost management
  • Utilising target and lifecycle costing in product development
  • Applying quality management tools to improve service and product offerings
  • Conducting value chain analysis to identify value addition points
  • Performing Customer Profitability Analysis to maximise client returns

Addressing Modern Challenges in Management Accounting

  • Integrating Environmental Management Accounting (EMA) for sustainable practices
  • Implementing CSR strategies aligned with business objectives
  • Leveraging big data and analytics for informed decision-making
  • Understanding the impacts of globalisation on management accounting
  • Learning from global case studies to adapt and innovate
SKILLS

At the end of this course, delegates will be able to:

  • Adapt strategic management accounting practices to modern business challenges.
  • Utilise advanced performance management tools to monitor and improve team output.
  • Implement flexible budgeting approaches that align with dynamic business environments.
  • Apply contemporary costing methods to enhance decision-making and profitability.
  • Analyse and improve value chain processes within their organisations.
  • Integrate environmental and social governance strategies into business models.
  • Leverage big data for strategic insights and competitive advantage.
  • Navigate and lead across multicultural and international landscapes.

 

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VAT: Courses held in London are subject to VAT at the current rate

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